Three major AI altcoins, Fetch.ai (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN), have unveiled the completion date for their significant merger, set for June 13. This strategic move is anticipated to heighten interest in leading AI alternatives such as RNDR Coin and potentially spur speculative price movements in the market. The merger will form the Artificial Superintelligence Alliance (ASI), representing the largest open-source, decentralized network in the AI industry.
What Is the Merger About?
The merger’s completion, scheduled for June 13, follows internal approvals from the involved projects. The Artificial Superintelligence Alliance will bring together SingularityNET, Fetch.ai, and Ocean Protocol under the ASI token. This new token will symbolize a collaborative effort to advance a decentralized AI ecosystem, with the official announcement highlighting the significance of this union.
How Will Token Conversions Work?
As of June 11, 2024, FET Coin will be rebranded as ASI Coin. On June 13, AGIX and OCEAN tokens will also convert under new ratios. Specifically, FET will convert to ASI on a 1:1 ratio, while AGIX and OCEAN will convert to ASI at approximately 0.433:1. The total supply of ASI tokens will be set at 2.63 billion. These changes are crucial for stakeholders to understand as the merger date approaches.
Notable Details of the Merger
Key details that investors and enthusiasts should note include:
- FET Coin will be renamed ASI as of June 11, 2024.
- The official merger date is June 13.
- AGIX and OCEAN will follow FET Coin’s conversion on June 13.
- Conversion rates: FET to ASI at 1:1, AGIX to ASI at 0.433350:1, and OCEAN to ASI at 0.433226:1.
These specifics are vital for those involved to prepare appropriately for the transition.
Conclusion
The merger of these three prominent AI altcoins signals a crucial step towards a more integrated and decentralized AI landscape. Investors should monitor the developments closely, as they could prompt significant changes in token valuations and market dynamics.